Trinidad Drilling Ltd. announced an award in Kuwait for two Trinidad Drilling International (TDI) joint venture rigs on a five-year contract. Trinidad expects that the joint venture rigs will begin operating by late in the first quarter or early in the second quarter of 2019. The contract has five-year, take-or-pay terms with an optional one-year extension, at the discretion of the customer. TDI will be reimbursed by the customer for the cost of relocating the two rigs from Mexico. The rigs will undergo capital upgrades of approximately $22 million per rig (Trinidad's 60% portion), largely related to new well control equipment and mud systems. Trinidad expects to fund the additional upgrade capital from cash in the TDI joint venture, as well as reinvested proceeds from the previously disclosed sale of TDI's three Saudi Arabian rigs. In 2018, Trinidad expects to fund its existing capital program through cash flow generated from operations, the proceeds from the expected sale of unused facilities, and cash from the recent sale of its Saudi Arabian rigs, which TDI anticipates distributing to its joint venture owners. Excess cash flow may be used to repay debt outstanding on the Company's credit facility. Following the redeployment of the two rigs to Kuwait, TDI will have two rigs remaining in Mexico and one rig in Bahrain. The rig located in Bahrain and one of the two Mexican rigs were recently re-activated and TDI expects that they will continue operating for the remainder of 2018.